Global Economy

Post-covid trend of the economic inactivity in the UK

Canada's unemployment rate dropped substantially and unexpectedly to 6.5% in November, from 6.9% in the prior month, showing signs of a much-needed resiliency in the North American economy.

The Producer Price Index for Final Demand (PPI-FD) declined 0.1% MoM in Aug, bring the annual increase down to 2.6% from 3.1% in the previous month.

Ahead of Jay Powell's keynote speech in Jackson Hole on Friday, two Fed officials said more rate hikes are still warranted, but they said it's too early to decide on the size rate increase yet.

EU’s Single Resolution Board has enforced payment moratorium on three European subsidiaries of Russian bank Sberbank, which is under US-led sanction, and is accessing whether any resolution action would be need to to protect public interest.

The Federal Reserve revealed US large banks passed the 2024 banking system stress test.

The Federal Reserve is expected to cut its benchmark interest rate by 25 basis points this week. This has been the baseline market assumption since Chairman Jerome Powell's speech at Jackson Hole, in which he proclaimed, “the shifting balance of risks may warrant adjusting our policy stance." The question is, how many dissenting votes will Powell face in this meeting?

CPI: 4.0% YoY (Dec: 4.0%); Core CPI: 5.1% YoY (Dec: 5.1%)

Core PCE inflation rose 4.7% in January YoY, beating expectation of 4.4% increase. The Fed-preferred price index rose 0.6% MoM compared to the market expectation of 0.5%.

Inflation in Canada decreased to 2.53% at an annual basis in July according to Statistics Canada's latest report